Texas Governor Seeks $10 Billion for New Natural Gas Plants
7/2/2024
(Reuters) — Texas Governor Greg Abbott and Lieutenant Governor Dan Patrick said on Monday they will seek to expand the Texas Energy Fund program to $10 billion to build more natural gas plants to meet the state's growing demand for electricity.
The statement said Texas currently has about 85,000 megawatts of power available including wind, solar, coal, nuclear and natural gas, but may need 150,000 megawatts by 2030.
The fund was approved last year to provide a $5 billion low-interest loan program to incentivize the building of dispatchable natural gas plants.
"Texas has already received notice of intent to apply for $39 billion in loans, making the program nearly eight times oversubscribed," the statement said.
Related News
Related News
Sign up to Receive Our Newsletter
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
Comments